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5016 North Sadlier Drive Indianapolis, IN 46226

3 Beds 2 Baths 960 sqft Built 1959

INVESTimate

$103,900

List Price

$820

$738 - $902

Rent Est.

$106,373  ( +2.38%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1959
  • Price/Sqft : $108.23
  • 8 Days on Market
  • MLS # : 21732845
  • Updated Date : 08/21/2020 at 09:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 960 sqft
  • Baths : 1 full , 1 half
Listing Agent

Greentree Real Estate Group

Listing Agent's Description

3 Bedroom, 1.5 BA home in quiet Lawrence neighborhood. Home is being sold AS IS but with a little attention, this could be the jewel of the neighborhood. Great location. Convenient to interstate with easy access to downtown. Close to elementary, middle and high schools. Fort Harrison State Park, only minutes away offers hiking, walking/biking trails, horseback riding, picnic areas/shelters, guided tours by the naturalists. The Fort Harrison YMCA, restaurants, the Fort Golf Course, Arts for Lawrence Cultural Campus all await you! This is the best deal in Lawrence. Don't miss making it yours.

SEE MORE

  • Indianapolis metro has 65.5% labor force participation rate higher than the national rate 62.8%. The participation is expected to grow to 66.2% in 2020 (USMayors.org, 2018)
  • Indianapolis metro contributes to 39.8% of Indiana state economy i.e. Gross State Product (USMayors.org, 2018)
  • Indianapolis metro employment growth is at 1.6% and predicted to grow at 1.8% in 2019 (USMayors.org, 2018)
  • Indiana state (in turn Indianapolis being part of Indiana) ranks 10th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019)
  • Indianapolis metro's economy is worth $149.7 billion in Gross Metro Product and projected to grow to $158.1 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Lawrence

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190kPrice in $104k198k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Lawrence

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2950100010501100115012001250Rent in $9211270

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Harrison Hill Elementary School Of Inquiry And Performing Arts (west Side) Primary Regular 698 35 2
Belzer Middle School Middle Regular 1,159 61 4
Lawrence Central High School High Regular 2,331 115 3

Harrison Hill Elementary School Of Inquiry And Performing Arts (west Side)

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 35
2
GreatSchools Rating

Belzer Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 61
4
GreatSchools Rating

Lawrence Central High School

  • Education Level: High
  • # of students: 2,331
  • # of teachers: 115
3
GreatSchools Rating
 

$93,510$114,290$103,900

PURCHASE PRICE

$738$902$820

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$50k$100k$150k$200k$250k$300k$350k

PROJECTED ANNUAL CASH FLOW

11530$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k$7.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $820
EXPENSES Loan Payment -$383
Property Tax -$162
Property Insurance -$46
Property Management Fees -$74
CASH FLOW
$155

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$103,900

PROJECTED PRICE

$820

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 2.38%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$33,284

INVESTMENT

$33,284

Down Payment
$25,975
Rehab Estimate
$5,750
Closing Costs
$1,559

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$383

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $25,975
Loan Amount $77,925
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$18,124

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $820

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $816

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$820
1$8202$8493$8504$8755$915
$915
RENT COMPS ANALYSIS
  • 5016 North Sadlier Drive Indianapolis, 1
    • 3 beds 2 baths ∙ 960 Sqft ∙ Built 1959 3 beds 2 baths ∙ 960 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $820
    • $0.85
    •  
  • 6642 Brookhaven Drive Indianapolis, 2
    • 3 beds 2 baths ∙ 936 Sqft ∙ Built 1954 3 beds 2 baths ∙ 936 Sqft ∙ Built 1954
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $849
    • $0.91
    •  
  • 4610 Karen Drive Indianapolis, 3
    • 3 beds 2 baths ∙ 936 Sqft ∙ Built 1954 3 beds 2 baths ∙ 936 Sqft ∙ Built 1954
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.91
    •  
  • 8207 East 50th Street Indianapolis, 4
    • 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1958
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.79
    •  
  • 4834 Kenyon Drive Lawrence, 5
    • 3 beds 1 baths ∙ 1,160 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,160 Sqft ∙ Built 1954
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $915
    • $0.79
    •  
PROPERTY LISTING DETAILS
Marjorie U. Crouch
Greentree Real Estate Group
BESbswy